Deutsche Bank AG Makes New Investment in ScanSource, Inc. $SCSC

Key Points

• Deutsche Bank acquired 22,669 ScanSource shares in the second quarter, worth approximately $1.18 million, while institutional investors collectively own 97.91% of the company.
• ScanSource reported quarterly earnings of $1.46 per share, beating estimates of $1.14, while revenue rose 17.3% year over year to $953.11 million.
• Analyst sentiment is mixed but leans positive, with an average “Moderate Buy” rating and a $43 consensus price target; the stock recently opened at $56.55.

Deutsche Bank AG acquired a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 22,669 shares of the industrial products company's stock, valued at approximately $1,181,000. Deutsche Bank AG owned approximately 0.11% of ScanSource at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wasatch Advisors LP lifted its stake in ScanSource by 34.9% in the 3rd quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company's stock worth $50,130,000 after purchasing an additional 294,624 shares in the last quarter. LSV Asset Management lifted its position in shares of ScanSource by 40.6% in the fourth quarter. LSV Asset Management now owns 847,863 shares of the industrial products company's stock worth $33,118,000 after buying an additional 244,903 shares in the last quarter. SG Americas Securities LLC boosted its stake in ScanSource by 74.4% during the first quarter. SG Americas Securities LLC now owns 494,988 shares of the industrial products company's stock valued at $17,968,000 after buying an additional 211,232 shares during the last quarter. Invesco Ltd. boosted its stake in ScanSource by 56.5% during the fourth quarter. Invesco Ltd. now owns 439,442 shares of the industrial products company's stock valued at $17,165,000 after buying an additional 158,722 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in ScanSource by 65.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 389,915 shares of the industrial products company's stock valued at $17,152,000 after buying an additional 154,518 shares in the last quarter. Institutional investors own 97.91% of the company's stock.

ScanSource Price Performance

SCSC opened at $56.55 on Monday. The business has a fifty day moving average of $53.83 and a 200 day moving average of $45.12. The stock has a market cap of $1.14 billion, a P/E ratio of 15.45, a PEG ratio of 0.83 and a beta of 1.28. The company has a quick ratio of 1.15, a current ratio of 1.76 and a debt-to-equity ratio of 0.11. ScanSource, Inc. has a 52-week low of $33.76 and a 52-week high of $66.78.

ScanSource (NASDAQ:SCSC - Get Free Report) last released its earnings results on Thursday, August 20th. The industrial products company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.32. The business had revenue of $953.11 million during the quarter, compared to the consensus estimate of $814.35 million. ScanSource had a return on equity of 10.10% and a net margin of 2.44%.The business's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the company earned $1.02 earnings per share. As a group, sell-side analysts anticipate that ScanSource, Inc. will post 4.56 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on SCSC. Wall Street Zen upgraded ScanSource from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Northcoast Research cut shares of ScanSource from a "buy" rating to a "neutral" rating in a research report on Monday, August 17th. Weiss Ratings reiterated a "hold (c+)" rating on shares of ScanSource in a research report on Wednesday. Finally, Zacks Research raised shares of ScanSource from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $43.00.

ScanSource Company Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.

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